Civic Intelligence

Chatham Creative Arts Incubator Inc.

990 • Fiscal year 2016 • EIN 47-0862625

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 12, 2017

Organization ProfileWWW.NCARTSINCUBATOR.ORG
PO Box 643 223 North Chatham AvenueSiler City, NC 27344

(919) 663-1335

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.43x

Higher debt load relative to assets than 83% of similar nonprofits.

2016 filings • NTEE S30 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

2.27x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • NTEE S30 • <$500k nonprofits • Source year 2016

Net Margin

34th percentile

-9.1%

Higher net margin than 34% of similar nonprofits.

2016 filings • NTEE S30 • <$500k nonprofits • Source year 2016

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • NTEE S • <$500k nonprofits • Source year 2016

Asset Growth

43rd percentile

-4.8%

Faster asset growth than 43% of similar nonprofits.

2016 filings • NTEE S30 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

22nd percentile

-19%

Faster revenue growth than 22% of similar nonprofits.

2016 filings • NTEE S • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$322,755

Down $16,369 (-4.8%) from 2015

Net Assets

Down

$185,150

Down $5,515 (-2.9%) from 2015

Liabilities

Down

$137,605

Down $10,854 (-7.3%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin34th percentile

Revenue

Down

$60,530

Down $14,382 (-19%) from 2015

Expenses

Down

$66,045

Down $22,190 (-25%) from 2015

Net Income

Up

-$5,515

Up $7,808 (+59%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $1,082,841Liabilities 2010: $515,276Net Assets 2010: $567,5652010Assets 2011: $1,033,218Liabilities 2011: $486,802Net Assets 2011: $546,4162011Assets 2012: $971,113Liabilities 2012: $468,132Net Assets 2012: $502,9812012Assets 2013: $507,623Liabilities 2013: $169,628Net Assets 2013: $337,9952013Assets 2014: $363,341Liabilities 2014: $159,353Net Assets 2014: $203,9882014Assets 2015: $339,124Liabilities 2015: $148,459Net Assets 2015: $190,6652015Assets 2016: $322,755Liabilities 2016: $137,605Net Assets 2016: $185,1502016Assets 2017: $305,441Liabilities 2017: $130,918Net Assets 2017: $174,5232017Assets 2018: $237,960Liabilities 2018: $118,772Net Assets 2018: $119,1882018Assets 2019: $280,534Liabilities 2019: $112,268Net Assets 2019: $168,2662019Assets 2020: $261,123Liabilities 2020: $98,375Net Assets 2020: $162,7482020Assets 2021: $248,985Liabilities 2021: $86,487Net Assets 2021: $162,4982021Assets 2022: $242,619Liabilities 2022: $78,532Net Assets 2022: $164,0872022Assets 2023: $199,240Liabilities 2023: $13,975Net Assets 2023: $185,2652023Assets 2024: $214,612Liabilities 2024: $1,193Net Assets 2024: $213,4192024

Highlighted filing

2016

Assets$322,755
Liabilities$137,605
Net Assets$185,150
Open 2016 Filing

Operations Trend

Revenue Growth22nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$100K$0-$100K-$200KExpenses 2010: $166,4292010Expenses 2011: $174,0802011Expenses 2012: $155,8082012Revenue 2013: $89,029Expenses 2013: $105,429Net Income 2013: -$16,4002013Revenue 2014: -$32,953Expenses 2014: $101,054Net Income 2014: -$134,0072014Revenue 2015: $74,912Expenses 2015: $88,235Net Income 2015: -$13,3232015Revenue 2016: $60,530Expenses 2016: $66,045Net Income 2016: -$5,5152016Revenue 2017: $65,544Expenses 2017: $76,171Net Income 2017: -$10,6272017Revenue 2018: $47,724Expenses 2018: $103,059Net Income 2018: -$55,3352018Revenue 2019: $164,115Expenses 2019: $115,037Net Income 2019: $49,0782019Revenue 2020: $76,308Expenses 2020: $81,826Net Income 2020: -$5,5182020Revenue 2021: $61,871Expenses 2021: $62,121Net Income 2021: -$2502021Revenue 2022: $71,479Expenses 2022: $69,890Net Income 2022: $1,5892022Revenue 2023: $97,878Expenses 2023: $76,700Net Income 2023: $21,1782023Revenue 2024: $105,729Expenses 2024: $77,575Net Income 2024: $28,1542024

Highlighted filing

2016

Revenue$60,530
Expenses$66,045
Net Income-$5,515
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 12, 2017
Return Version
2016v3.0
Gross Receipts
$64,957
Mission and Program Overview

Mission

Create a self-sustaining arts community dedicated to providing new and emerging artists with rental spaces to create art, to have access to shared resources and to be exposed to ongoing support and training opportunities; and to partnering with others for the purpose of incubating artists in the pursuit and development of viable businesses, and promote economic development in historic downtown siler city, north carolina.

Art support services & education

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$234,082$219,139▼ $14,943
Other Notes and Loans Receivable, Net$73,562$57,495▼ $16,067
Cash and Non-Interest-Bearing Accounts$28,422$43,503▲ $15,081
Accounts Receivable$1,815$1,665▼ $150
Prepaid Expenses and Deferred Charges$910$953▲ $43
Total Assets$339,124$322,755▼ $16,369
Other Assets Total$333--
Liabilities
Mortgage Notes Payable Secured by Investment Property$145,793$136,727▼ $9,066
Accounts Payable and Accrued Expenses$2,666$878▼ $1,788
Total Liabilities$148,459$137,605▼ $10,854
Net Assets / Fund Balance
Unrestricted Net Assets$185,130$180,015▼ $5,115
Temporarily Rstr Net Assets$5,535$5,135▼ $400
Total Net Assets Fund Balance$190,665$185,150▼ $5,515
Total Liabilities and Net Assets / Fund Balance$339,124$322,755▼ $16,369

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$215,510$140,109$355,619
Equipment$3,629$26,457$30,086
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Larry CooperCo-chairman
Nicholas DakasCo-chairman
Bronwyn WatsonDirector
Denis De St AubinDirector
Michael ConstantinoDirector
Wren FarrarSecretary
Zoann AdamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,330
Program Service Revenue
$42,146
Investment Income
$3,054
Other Revenue
$0
All Other Contributions
$11,282
Change in Net Assets
$-5,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$66,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$14,943$333-$15,276
Interest$5,133--$5,133
Fees for Services Accounting$4,410$490-$4,900
Other Expenses$4,405$177-$4,405
All Other Expenses$3,685$54-$3,739
Insurance-$1,046-$1,046
Occupancy$675--$675
Advertising$372--$372
Office Expenses$294$6-$300
Total Functional Expenses$62,907$3,138$0$66,045
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$4,427
Fundraising Gross Income$4,427
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Denis de st. Aubin and wren farrar have a family relationship.”

Form 990, Part VI, Section A, Line 7B

“Items relating to personnel (including salaries) and agency service policies require board approval.”

Form 990, Part VI, Section B, Line 11B

“Board members were each given the opportunity to review the 990 at the board meeting before it was filed.”

Form 990, Part VI, Section C, Line 19

“Governing documents (including form 990) are available for inspection in the organization office.”

Filing and Contact Details

Filer

Filer Name
Chatham Creative Arts Incubator Inc
EIN
47-0862625
Phone
9196631335
Address
PO BOX 643 223 NORTH CHATHAM AVENUE, SILER CITY, NC 27344

Signing Officer

Name
Zoann Adams
Title
Treasurer
Phone
9196631335
Signed
2017-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Zoann Adams
Formed
2002
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Ward & Foust Cpas Pa
Address
PO BOX 185, SILER CITY, NC 27344
Preparer
Donna S Foust
Phone
9196632311
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0264990
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03054
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt03937
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03560
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0507
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0825
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt011883
IRS990ScheduleA/InvestmentIncomeCYPct00.02970
IRS990ScheduleA/InvestmentIncomePYPct00.01970
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97030
IRS990ScheduleA/PublicSupportPY509Pct00.97550
IRS990ScheduleA/PublicSupportTotal509Amt0388039
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt057476
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt070975
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt064283
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt088521
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0106784
IRS990ScheduleA/Total509Grp/TotalAmt0388039
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt060530
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt074912
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt067843
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt089028
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0107609
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0399922
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0215510
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0140109
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0355619
IRS990ScheduleD/EquipmentGrp/BookValueAmt03629
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026457
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt030086
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0219139
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DENIS DE ST. AUBIN AND WREN FARRAR HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ITEMS RELATING TO PERSONNEL (INCLUDING SALARIES) AND AGENCY SERVICE POLICIES REQUIRE BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS WERE EACH GIVEN THE OPPORTUNITY TO REVIEW THE 990 AT THE BOARD MEETING BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS (INCLUDING FORM 990) ARE AVAILABLE FOR INSPECTION IN THE ORGANIZATION OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt05535
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt05135
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0339124
IRS990/TotalAssetsEOYAmt0322755
IRS990/TotalAssetsGrp/BOYAmt0339124
IRS990/TotalAssetsGrp/EOYAmt0322755
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt015330
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03138
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt062907
IRS990/TotalFunctionalExpensesGrp/TotalAmt066045
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0137605
IRS990/TotalLiabilitiesGrp/BOYAmt0148459
IRS990/TotalLiabilitiesGrp/EOYAmt0137605
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0185150
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt062907
IRS990/TotalProgramServiceRevenueAmt042146
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt042146
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0185130
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0180015
IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTP://WWW.NCARTSINCUBATOR.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ZOANN ADAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09196631335
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHATHAM CREATIVE ARTS INCUBATOR INC
ReturnHeader/Filer/BusinessNameControlTxt0CHAT
ReturnHeader/Filer/EIN0470862625
ReturnHeader/Filer/PhoneNum09196631335
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ReturnHeader/FilingSecurityInformation/IPDt02017-02-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm015:18:17
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0260367225
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WARD & FOUST CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 185

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$322,755
Liabilities
$137,605
Net assets
$185,150
Revenue
$60,530
Expenses
$66,045
Net income
-$5,515
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.00$0.21$0.11$0.08$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.01$0.19$0.10$0.08$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.08$0.16$0.07$0.07$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.09$0.16$0.06$0.06$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.10$0.16$0.08$0.08$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.11$0.17$0.16$0.12$0.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.12$0.12$0.05$0.10$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.13$0.17$0.07$0.08$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.32$0.14$0.19$0.06$0.07$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.15$0.19$0.07$0.09$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.16$0.20$0.03$0.10$0.13
2013Detailed filing. Detailed filing data is available for this year.$0.51$0.17$0.34$0.09$0.11$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.47$0.50$0.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.49$0.55$0.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.52$0.57$0.17